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ITAM, also known as IT Asset Management, as an ability is something that can significantly help a business or organization get a better grip on what is being used within the IT environment.

If IT Asset Management is done properly and successfully, you will be able to save your business or organization a great amount of money, improve operational efficiency, and reduce present and future risks.

Unfortunately, many people get caught up in all the details of IT Asset Management or find something that will prevent them from creating a journey that includes IT Asset Management software. Often, there are myths and misconceptions that hold people back from giving IT Asset Management software a chance. So, we are going to do our best to separate the truths from the myths.

Myth 1: IT Asset Management Does Not Relate To IT Help Desk

The main focus of an IT service desk is to properly deal with service requests and incident requests. IT Asset Management also handles interactions and communications with users, so this makes it a great match for IT Asset Management. Incident requests and service requests are incredible opportunities to bring in an IT Asset Management strategy. If you are currently using manual processes to handle your service and incident requests, you probably go through various hoops and hurdles each time just to successfully complete the process.

If your end-user requests go through an ITAM process and you use a self-service portal, the process will be smoother and quicker. The end users and the help desk will be updated as the request goes through each stage. The help desk technician will review each request and check the inventory through the IT Asset Management tool. If it is discovered that new hardware is needed, a request will be sent to the purchasing department and a purchase order will be put in for new equipment. Eventually, the product will be delivered to the end user and the service request will be completed after receiving a confirmation from the end user.

Myth 2: IT Asset Management Is Too Complex To Implement

While many people believe that IT Asset Management is costly and too complex to implement, we believe that it is costly and too difficult to deal with the end results of not having IT Asset Management in place. You can avoid being bogged down with fines and audits that will put more pressure on everyone in your IT department.

Instead of viewing IT Asset Management as an unnecessary expense or added pressure, we encourage you to change your mindset and your viewpoint and start viewing ITAM as a great investment in the quality of service you will present. When you create a space for IT Asset Management, you will no longer have to worry about completing audits, fines, and other activities at the last minute. You will no longer have to worry about the stresses and risks that come with not being fully licensed; you will improve your service quality and your service ability as you reduce the chances of your services being interrupted.

Myth 3: IT Asset Management Is Not Applicable

Regardless of what industry your business or organization is in, IT Asset Management will apply to you. It does not matter what size your business is, if you already have software in your workplace, you will need to make sure you have the right number of licenses. You will also be subject to various audits from the vendor of the software, and you can be faced with multiple fines if it is determined you are non-compliant.

Myth 4: IT Service Management Will Take Care Of Everything

IT Service Management(ITSM) is a system that looks at your running your business services and your IT services from a strategy standpoint to CSI(continual service improvement). On the other hand, IT Asset Management consists of multiple processes that are designed to manage your IT environment, protect your IT environment, and control your IT environment.

IT Service Management tools have the ability to manage various incidents and changes. IT Asset Management tools are engines that are used to keep track of your assets and can restore software licenses that are related to your services. We are not able to compare the two types of software because they are designed to do different things.

Myth 5: Using ITAM Means We Will Have To Start Over

Take a careful look at what your business or organization is already using. Once you have a better understanding of what you already have in place, you will be surprised at how much IT Asset management you are already doing. Does your help desk have a fulfillment process that is used to properly manage requests for new services or hardware? Does your service desk team use tags to keep track of anything? Does your financial department use an IT purchasing process? Using IT Asset Management does not mean you will have to start over; look at what you are currently using and continue from there.

IT Asset Management is one of the IT management competencies where you will see results efficiently and quickly. Some of the major benefits of IT Asset Management include the following:

• You will have the ability to protect your IT environment as a whole
• You will be able to make sure you are complying with the software rules and regulations
• You can purchase and manage all of your hardware and software assets
• You will have the information you need to successfully renew licenses and contracts

Your IT infrastructure continues to change, and every day there will be new hardware and software that you will want to acquire. It is important that you take the steps to figure out how you can optimize and protect your assets. We understand that implementing an asset management strategy can be a daunting task, but it can especially be daunting when you hear myths and misconceptions about the topic.

We know that you have probably heard some or all of these myths about IT Asset Management and they have probably held you back from taking the next step. We hope that we were able to bust the myths that you have heard in the past. Do not let any of these myths and misconceptions stop you from fully protecting your environment.